Bharat Loan Review: If you are looking for instant personal loans online, you are at the right place.
Bharat Loan App offers instant personal loans up to ₹1 lakh.
Bharat Loan App provides a quick and easy loan application process with minimal eligibility criteria and disbursed funds in seconds.
This blog post will give you a detailed review of the Bharat loan.
Table of Contents
What is Bharat Loan App
Bharat Loan App is a trusted digital lending platform in India that helps individuals get instant loans in times of need.
Bharat Loan app, operated by RBI-listed non-banking financial company (NBFC) Devmuni Leasing & Finance Limited, focuses on providing instant loans to salaried professionals.
Bharat Loan App is a secure and reliable financial platform. Their mission is to provide a seamless, fully digital loan experience from the comfort of your home with 100% security.
Bharat Loan Review (Loan Details)
| Bharat App | Loan Details |
|---|---|
| Loan Amount | ₹5,000 (Minimum) to ₹1,00,000 (Maximum) |
| Repayment Tenure | 2 Months (Minimum) to 12 Months (Maximum) |
| Rate of Interest / APR | 35% (Fixed) |
| Processing Fees | 2% of the Loan Amount |
| GST on Processing Fees | 18% (applied on the processing fee) |
With the Bharat Loan app, you can apply for an instant personal loan from ₹5,000 to a maximum of ₹1,00,000. The repayment tenure of the Bharat Loan ranges from a minimum of 2 months to a maximum of 12 months. The Bharat loan comes with a fixed interest rate of 35% per annum, and there is a processing fee of 2% of the loan amount, plus 18% additional GST on the processing fee.
Bharat Loan Interest rate and EMI Example;
This means that if you take a loan of ₹50,000 at a 35% APR for 12 months, after deducting the processing fee plus GST, you’ll receive ₹48,820. You’ll need to repay ₹59,978 over 12 months, with monthly payments (EMI) of ₹4,998, resulting in a total interest cost of ₹9,978.
Benefits and Features of the Bharat Loan App
Here are the benefits and features of the Bharat Loan App:
Benefits:
- Get an instant loan through the app or website.
- Bharat Loan provides a 101% instant loan approval.
- Bad CIBIL Score? No Problem, Get a loan of up to ₹60,000 instantly.
- Have a good CIBIL score and qualify for a higher loan amount.
- Offers flexible repayment options.
- Bharat app is a secure platform, that provides loans without any risk.
- Apply for a loan easily by downloading the app on your mobile and submitting your application from home.
Features:
- Paperless Online Application with no need for physical documents.
- Rapid and Effortless Application Process for a Loan.
- The loan process is clear and straightforward, with no hidden steps.
- Enjoy attractive interest rates on your loan.
- No need to visit a branch or meet anyone in person.
- Personalized assistance throughout the loan process.
- Complete loan application with digital KYC and Aadhaar eSign.
- Track the status of your loan application in real-time.
Eligibility criteria for Bharat Loan
You must fulfil the following criteria to be eligible for Bharat Loan:
- Only Indian citizens can apply.
- You must be at least 21 years old.
- You must possess all required KYC documents.
- You must be a self-employed individual.
- You need to have an active bank account.
- Your credit score is good or bad, no problems.
Documents Required for Bharat Loan
- Aadhar Card
- PAN Card
- 6 Month Bank Statement
- Address Proof
- 3-Month Salary Slip
How to apply for Bharat Loan
Here’s a simple step-by-step guide on how to apply for a loan using the Bharat Loan app:
- Download & Install the Bharat loan App:
Open the Google Play Store on your mobile, search for the Bharat Loan app, and download & Install it.
- Verify Your Number on the app:
Open the app, Enter your mobile number, and verify it using the OTP sent to you.
- Go to the Dashboard of the App:
Once verified, you’ll be taken to the Dashboard of the app.
- Start the loan application process:
Provide your information (name, mobile number, PAN card number, employment status (self-employed or salaried), address, and the loan amount).
- Upload KYC Documents:
To complete your KYC, upload the required documents and click the “Continue” button.
- Select the required Loan Amount:
Choose the loan amount and the repayment period you need, and submit your application.
- Wait for Loan Approval Status:
After a few minutes, the app will display your loan approval status.
- Receive Funds in Bank Account:
After the loan is approved, the loan amount will be credited to your bank account within a few minutes to a few hours.
Quick links;
Bharat loan app is rbi approved or not
Yes, Bharat Loan is an RBI-approved loan app. It is registered under DEVMUNI LEASING & FINANCE LIMITED, an RBI-registered NBFC (non-banking financial institution).
The Bharat Loan App offers quick, easy, and 100% digital solutions for short-term (2 to 12 Months) financial needs, including paperless documentation that can be completed online.
Bharat loan app real or fake
Yes, Bharat Loan App is a reliable digital lending platform. BharatLoan Small Finance operates as a brand under DEVMUNI LEASING & FINANCE LIMITED, a registered Non-Banking Financial Company (NBFC) with the Reserve Bank of India (RBI) since October 2002 (registration number B_14.02719). This suggests its reality and legitimacy, as NBFCs are regulated by the RBI and must adhere to strict compliance standards.
Bharat Loan Review complaints
Nowadays many online loan apps provide instant loans. However, most loan apps receive complaints about their services. Bharat Loan App also has some complaints. You can read them by clicking here.
Bharat loan customer care number
- Website – www.bharatloan.com
- Customer Care – +91-8282824-644
- Email – [email protected]
FAQs
What is the Bharat loan interest rate?
The Bharat Loan app offers a fixed Annual Percentage Rate (APR) of 35% per annum.
is bharat loan safe
Bharat Loan is a secure and trusted platform for instant personal loans. It is registered and works under RBI-approved NBFC. 1M+ users use the Bharat Loan App.
Who is the owner of Bharat loan?
Amit Bansal is the founder of Bharat Loan Finance Company. This company provides personal loans to eligible individuals.
In conclusion –
In conclusion, Bharat Loan App is a reliable and RBI-approved digital lending platform that offers quick and easy access to personal loans.
Yes, Bharat Loan can provide a convenient solution for small and short-term financial needs.
We hope you got the Bharat loan review in detail. Give your opinion in the comment box!
Related;
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In a world where time is money, getting a loan should be quick and easy. With Creditmitra’s instant personal loan app, you can apply for loans without stepping out of your home. The app’s user-friendly interface allows you to apply for a personal loan online and receive fast approvals for urgent financial needs.